Bloomberg reported earlier that James Deighton, head of European flow credit, is leaving the British bank, but the cuts seemingly go deeper than that. Jeremy Hughes, head of European leveraged credit, CLO and ABS distribution, is understood to be leaving too. So is Simon Quinn, head of Benelux and Scandi sales. Neil McLaren, head of European credit distribution, is understood to have been moved internally.

Meanwhile, another Barclays distressed salesman is understood to have moved to Goldman Sachs.